Global Electric Vehicle Market Growth 2025-2031

The global Electric Vehicle market size is predicted to grow from US$ 119370 million in 2025 to US$ 290470 million in 2031; it is expected to grow at a CAGR of 16.0% from 2025 to 2031.

Electric Vehicle is one kind of new vehicle which utilizes the unconventional fuel as the power source integrating the advanced technology of the power control and drive section. The unconventional fuel generally is power. It mainly includes the PHEV and BEV.

The leading manufactures mainly are Tesla, BYD, SAIC, BAIC, BMW, Hyundai & Kia, GEELY, Nissan, Volkswagen, Renault, JAC, TOYOTA , Mitsubishi, Chery, VOLVO, GAC Motor, Great Wall Motors, DongFeng Motor, etc. Tesla is the largest manufacturer, its revenue of global market exceeds 31%.

Geographically, the global Electric Vehicles (EVs) production market has been segmented into United States, Europe, China, Japan, others. The China held the largest share in the global market, its revenue of global market exceeds 42%. The next is Europe.

LP Information, Inc. (LPI) ' newest research report, the “Electric Vehicle Industry Forecast” looks at past sales and reviews total world Electric Vehicle sales in 2024, providing a comprehensive analysis by region and market sector of projected Electric Vehicle sales for 2025 through 2031. With Electric Vehicle sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Vehicle industry.

This Insight Report provides a comprehensive analysis of the global Electric Vehicle landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Vehicle portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Electric Vehicle market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Vehicle and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Vehicle.

This report presents a comprehensive overview, market shares, and growth opportunities of Electric Vehicle market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
PHEV
BEV

Segmentation by Application:
Home Use
Commercial Use

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Tesla
BYD
SAIC
BAIC
BMW
Hyundai & Kia
GEELY
Nissan
Volkswagen
Renault
JAC
TOYOTA
Mitsubishi
Chery
VOLVO
GAC Motor
Great Wall Motors
DongFeng Motor

Key Questions Addressed in this Report

What is the 10-year outlook for the global Electric Vehicle market?

What factors are driving Electric Vehicle market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Electric Vehicle market opportunities vary by end market size?

How does Electric Vehicle break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.